{"id":5829,"date":"2010-01-13T10:28:46","date_gmt":"2010-01-13T15:28:46","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2010\/01\/13\/gbpusd-bearish-correction-may-be-in-the-making\/"},"modified":"2010-01-13T10:28:46","modified_gmt":"2010-01-13T15:28:46","slug":"gbpusd-bearish-correction-may-be-in-the-making","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/13\/gbpusd-bearish-correction-may-be-in-the-making\/","title":{"rendered":"GBP\/USD Bearish Correction May Be in the Making"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; The sustained upward movement of the GBP\/USD pair doesn\u2019t seem to be receiving much resistance lately. As I will demonstrate below, the price of GBP\/USD may very well be heading for a correction. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry price.<\/p>\n<p>\u2022\tThe technical indicators that are used are the Relative Strength Index (RSI), Slow Stochastic and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022 Point 2: The Slow Stochastic indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.<\/p>\n<p>\u2022 Point 3: The Relative Strength Index (RSI) indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure.<\/p>\n<p>\u2022 Point 4: The Williams Percent Range has peaked at the 0 marker and has turned bearish; this means that there may actually be a strong level of downward pressure.<\/p>\n<p>GBP\/USD 8-Hour Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/01\/GBP-USD-13-1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/01\/GBP-USD-13-1.JPG\" alt=\"\" width=\"475\" height=\"614\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; The sustained upward movement of the GBP\/USD pair doesn\u2019t seem to be receiving much resistance lately. As I will demonstrate below, the price of GBP\/USD may very well be heading for a correction. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/01\/13\/gbpusd-bearish-correction-may-be-in-the-making\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Bearish Correction May Be in the Making&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5829","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=5829"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5829\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}